..... to september 16, 1997, by the assessing officer on the same day. the assessing officer recorded the statement on oath, under section 131 of the income-taxact, of the assessee. it has been mentioned in the order sheet. according to the assessment order at paras 62 and 63, thereafter on september ..... amount of the house rent allowance as undisclosed income. ultimately, the issue was discussed by the assessing officer at paras. 4 ..... 80,000 of house rent allowance should not be taxed in the hands of the assessee, it was stated by the assessee that the employer had valued the perquisites provided to the assessee and taxed the same as per the provisions of the income-taxact. therefore, there is no reason for treating the ..... finance. by letter dated september 2, 1997, the assessee had only submitted the names of such persons but no addresses were mentioned therein nor income-tax file number was mentioned. accordingly, the explanation of the assessee was not accepted and the amount of rs. 1.5 lakhs was treated as ..... not been or would not have been disclosed for the purpose of this act. in the present case, it is an undisputed fact that the assessee used to disclose the amount by him as the house property income in the regular income-tax proceeding as found by the assessing officer. therefore, in our opinion, .....

..... appellant to adduce evidence relevant to any ground of appeal.5. in the present case, it is not in dispute that the assessment was done under section 144 of the income-taxact and the additions made by the learned assessing officer were based on inferences drawn by him. it is, therefore, settled fact that sufficient inquiries were not conducted with regard to ..... itr 1, have observed that rule 46a does fetter the right of the assessee to produce evidences but it does not restrain the commissioner of income-tax (appeals) powers under section 250(4) or 250(5) of the income-taxact and that this rule appears to ensure that evidence is primarily led before the assessing officer. in view of this judgment of the bombay ..... should also not be interpreted in such a manner as to narrow down, dilute or curtail the statutory powers, conferred on the commissioner of income-tax (appeals), by the provisions of section 250(4) or 250(5) of the income-taxact, 1961. therefore, a harmonious interpretation of section 250, even read with rule 46a, cannot but mean that if facts of a case warrant ..... . it is also not the revenue's case that filing of additional evidence before the commissioner of income-tax (appeals) smacks of any mala fides or deliberate intent to act contrary to the scheme of the income-taxact.we, therefore, support admittance of additional evidence by the commissioner of income-tax (appeals).9. we have already expressed our view, in paragraph 4 above, that on the given .....

..... co. (p) ltd. (1978) 114 itr 116 (gauhati) wherein, at page 118, it was held as under : "the above excuse is thoroughly unconvincing and unacceptable. section 200 of the incometaxact, 1961, casts responsibility on any person deducting tax at source to pay within the prescribed time, the sum so deducted to the credit of the central government. rule 30(3) of the ..... source amounting to rs. 38,79,749 and rs. 98,94,225 on the amount of the income paid by way of interest on securities and interest other than interest on securities as required under the provisions of sections 193 and 194a of the incometaxact, 1961 respectively. it is also apparent that the assessee was required to pay the aforesaid deducted amount ..... to the credit of the central government in the manner prescribed under section 200 of the act which enacts that any person making any deduction of tax at source is to pay the amount so deducted ..... time, in this case, is therefore, solely on the principal officer, and the excuse that no demand is made from the incometax department is irrelevant." moreover in this connection we may also refer to explanation to section 221 of the act which provides that for the removal of doubt, it is hereby declared that an assessee shall not cease to be liable .....

..... of section 167b, i do not find anything expressed or otherwise indicating an intention that this provision will apply even on the assessment of income from house property overriding the provisions of section 26 of the income-taxact, the provisions of section 167b deal with the assessment in general of all aops. section 26 also deals with an assessment in the ..... 228 and 229 of the companies act, 1913 provided that an unsecured creditor must prove his debts and all unsecured debts are to be paid paripassn. in that ..... and considered their rival submissions. the income which is the subject-matter of dispute is income from house property. the provision for computing the chargeable income from house property are contained in sections 22 to 27 of the act, i.e., part c of chapter iv of the income-taxact. section 26 deals with the computation of income from property owned by co-owners. ..... governed by the provisions of section 40(c) of the act.9. in the case of india fisheries (p.) ltd. (supra), the supreme court was dealing with the case of unsecured creditors in the liquidation proceedings whereunder the department claimed by exercising the right under section 49e of the indian income-taxact, 1922 priority over the other unsecured creditors, whereas sections .....

..... of section 167b, i do not find anything expressed or otherwise indicating an intention that this provision will apply even on the assessment of income from house property overriding the provisions of section 26 of the incometaxact. the provisions of section 167b deal with the assessment in general of all association of personss. section 26 also deals with an assessment ..... 228 and 229 of the companies act, 1913 provided that an unsecured creditor must prove his debts and all unsecured debts are to be paid pari passu. in ..... and considered their rival submissions. the income which is the subject-matter of dispute is income from house property. the provision for computing the chargeable income from house property are contained in sections 22 to 27 of the act, i.e., part c of chapter iv of the incometaxact. section 26 deals with the computation of income from property owned by co-owners. ..... governed by the provisions of section 40(c) of the act.in the case of india fisheries (p) ltd. (supra), the supreme court was dealing with the case of unsecured creditors in the liquidation proceedings where under the department claimed by exercising the right under section 49e of the indian incometaxact, 1922, priority over the other unsecured creditors, whereas sections .....

..... reasons for their declining the registration are not legally sustainable. the assessee firm was, in our considered view, entitled to be treated as 'registered firm' for the purpose of the income-taxact. we, therefore, direct the assessing officer to treat the assessee as a 'registered firm' for all the years in appeal before us.20. before parting with the matter, we ..... strength of his elaborate submissions, urged us to set aside the orders of the authorities below, and direct the assessing officer to grant the status of 'registered firm' under the income-taxact.13. shri arvind shankar, distinguished departmental representative, strongly defended the orders of the authorities below. it was stated that the estate of mrs. chanda amritlal is a virtual partner ..... application made in the prescribed manner. accordingly, judicial precedents relied upon by the assessing officer were not applicable on the facts of the case. it was also stated that the income-taxact has nowhere provided that one hundred per cent of the profits is required to be credited to the partners' capital accounts, failing which the status of 'registered firm' is ..... admitted. it is also factually correct that the legal heir of the deceased partner has not signed form no. 12. this fact therefore clearly establishes that requirements of the income-taxact were not fulfilled. this being so, i have no hesitation in holding that the action of the assessing officer in denying the benefit of registration to the firm is justified .....

..... see no reason for non-application of the underlying principle of article 20(2), of the constitution of india, as also of section 26 of general clauses act, to the penalty proceedings under the income-taxact. as pointed out by justice g.p. singh in his 'principles of statutory interpretation' (6th edition 1997 reprint - 'laws defining offences and penalties' at page 410, relevant ..... 'enactment' praboh verma v. state of uttar pradesh air 1985 sc 167 at 175. in the light of these discussions, we are of the considered view that even under the income-taxact, an act or an omission of the assessee, even if technically covered by two separate defaults, cannot be punished twice under the penal provisions. no doubt an ..... source, under which section can such a penalty be imposed.7. we find that section 271c was inserted in the income-taxact with effect from 1st april 1989, by the virtue of direct-tax amendment act, 1987, and that the central board of direct-taxes, vide circular no.551, dated 23-1-1990, explained the insertion of this section in following words: "16.5 under ..... aggrieved that the dc1t(a) erred in deleting penalty of rs. 15,000 charged under section 221 of the income-taxact, 1961 (hereinafter referred to as 'the act').2. first, the relevant material facts. admittedly, the only lapse on the part of the assessee tax deductor was that he did not take into account the increase in surcharge, effected vide finance (second amendment) ordinance .....

..... reference with regard to what the assessee claimed as speculative transaction in shares. the assessment was finally completed on a total income of rs. 85,980.3. by notice dt. 14th march, 1996, the cit took proceedings under s.263 of the act for the following reasons : "(a) the ao has accepted the claim of the assessee in respect of share dealing to ..... conclusion derived by the ito from the enquiries made. the revisionary jurisdiction exercised by the cit under s. 263 has been held by the madras high court in venkatakrishna rice co. vs. cit (1987) 163 itr 129 (mad), was in the nature of a supervisory power and the citacting under s. 263 was not "however", an appellate authority, by any means ... sec. 263 ..... manner, be equated to, or regarded as approaching in anyway the appellate jurisdiction or even the ordinary revisional power conferred on the cit under s. 264 of the act".a similar view has been taken by the bombay high court in cit vs.gabriel indian ltd. (1993) 203 itr 108 (bom), in the conspectus of facts which are more or less similar to ..... by the ito was on the lower side and that left to himself he would have estimated the income at a higher figure. according to the bombay high court that would not vest the cit with power to reexamine the accounts and determine the income himself at a higher figure. it was held that "it is because the ito has exercised the quasi .....

..... employees credit co-operative society ltd. since the payments were made to unapproved institutions, the ao disallowed the same under s. 40a(9) of the act.cit(a) set aside the disallowance by following the decision of the tribunal in the case of m/s. a.p.e. bellis india ltd. in ..... rs. 2.13 lakh was paid on 11th april, 1992 i.e., within the due date for furnishing of return of income under s. 139(1) of the act.he, therefore, directed the ao to check the veracity of the claim of actual payment and thereupon deal with the issue in ..... departmental representative submitted that the term 'turnover' has come up for interpretation before courts time and again and it was consistently held that turnover includes sales-tax, excise duty, etc. he thus supports the order of the ao. on the other hand, learned counsel, appearing on behalf of the assessee, ..... directed the ao to recompute the depreciation after taking into account the additional liability arising from exchange rate fluctuation.11. aggrieved by the order of the cit(a), revenue is in appeal before us. learned departmental representative relied upon the order of the ao whereas, learned counsel, appearing on behalf of the ..... since the extra liability was not remitted during the year. he, therefore, disallowed the claim of depreciation proportionately.10. aggrieved, assessee contended before the cit(a) that the additional liability arising from the exchange rate fluctuation should be added to the cost of the machinery in order to arrive at the .....

..... investment made in the form of fixed deposit with cesc ltd. according to the regulation, cannot be treated differently and thus the interest income ought to have been allowed as deduction under s. 80p of the act.8. the cit(a) observed that the order of the aac cited before him deals with the interest earned on bank deposit whereas, in the instant ..... that interest on fixed deposit with cesc ltd. should be treated as income from banking business.4. aggrieved by the order under s. 154 of the act for the asst. yr.1989-90, it was contended before the cit(a) that the ao is not correct in treating the interest as income from 'other sources'. it was submitted that the investment with cesc ltd ..... ltd. was not made in the normal course of business of banking and thus the interest income earned thereon will not be covered by the provisions of s. 80p(2)(a)(i) of the act. the addition was, therefore, confirmed : (a) madhya pradesh co-operative bank ltd. vs. addl. cit (1979) 119 itr 327 (mp); and (b) madhya pradesh rajya sahakari bank vs ..... case, the issue pertains to the character of interest income earned on fixed deposit with csec ltd. he, therefore, distinguished the case on facts.similarly .....